Trendlines loses bid to renew agtech incubator licence

Singapore

THE Trendlines Group, a Catalist-listed medical (medtech) and agricultural tech (agtech) incubator, has lost its bid to renew its agtech incubator licence in Israel - but said this will not materially impact the group's earnings for 2016, and that it will continue to invest in agtech through its streamlined medtech incubator operations.

Trendlines broke the news on Wednesday in an announcement to Singapore Exchange: "The company's 85 per cent owned subsidiary, Trendlines Agtech, has on March 15, 2016 received a notice from the Office of the Chief Scientist of the Israel Ministry of Economy (OCS) that the licence to operate an incubator in the Judea and Samaria region of Israel has been awarded to a competitive bidder and not to Trendlines Agtech."